Mesa Laboratories Stock Forecast

Green day on Monday for Mesa Laboratories stock after gaining 0.199%
(Updated on May 06, 2024)

MLAB Signals & Forecast

Mostly positive signals in the chart today. The Mesa Laboratories stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $109.94 and $104.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 16.43%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 02, 2024 with a target of $104.05. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Mesa Laboratories stock

On the downside, the stock finds support just below today's level from accumulated volume at $105.05 and $104.27. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mesa Laboratories finds support just below today's level at $105.05. If this is broken, then the next support from accumulated volume will be at $104.27 and $99.40.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.35 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 4.84%.

Since the Mesa Laboratories has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $110.84 (-4.23%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (MLAB) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Mesa Laboratories to open at $115.28, and during the day (based on 14 day Average True Range), to move between $111.15 and $120.31, which gives a possible trading interval of +/-$4.58 (+/-3.96%) up or down from last closing price. If Mesa Laboratories takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $105.05, some $10.68 (9.23%) from the current price of $115.73, our system finds the risk reward attractive.

Is Mesa Laboratories stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mesa Laboratories stock to perform well in the short-term.

Current score: 1.428 Buy Candidate Unchanged

Predicted Opening Price for Mesa Laboratories of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.